The Housing Market in the Wake of Fed’s Decision | 1-Minute Market Update w/ Martin Perdomo
July 28, 2023 | Your weekly dose of real estate housing market updates in under one minute!
Prepare for an invigorating session as we dissect the effects of the Fed’s recent interest rate hike on the real estate market. Will this sudden rise result in a housing bubble? As we comb through Redfin’s latest housing market statistics, we observe a significant decline in mortgage purchase applications, a fluctuating span of median home sales, and a stark plunge in new listings. To say the least, the housing market is feeling the pressure, with active listings nosediving and demand being resilient, despite the dwindling number of properties available.
Hold onto your seats as we explore the potential fallout of these rate hikes on the real estate landscape, particularly in the aftermath of Jerome Powell and the Fed’s latest decisions. Are asset prices destined to plummet as the cost of money steadily rises? Amidst the rising cost of borrowing and looming threat of inflation, we dissect the impact on both buyers and sellers in the current economic climate. Tune in for our comprehensive prognosis and forecasts on the future of the housing market, providing essential insights for every real estate enthusiast seeking to comprehend the current dynamics amidst unpredicted economic transformations.
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